FXstreet.com (Barcelona) - The Euro is appreciating ahead of Wall Street opening, and after bouncing at 1.4090 2-week low, the pair advances approaching initial resistance at Aug 11 high 1.4185.

In case of further climbing, above 1.4185, next resistance levels come at 1.4220 (Aug 10 high) and then 1.4235, on the downside support levels lie at 1.4105/10 (Aug 10 and 11 low) and below there 1.4080 intra-day low and 1.4050/60.

The Euro seems to have found a solid resistance at 1.4100 and, according to Anna Coulling, technical analyst at Master The Markets, the medium -term direction for the Euro will be defined by the reaction to the Fed's statement: Should the Committee indicate that interest rates may have to rise in the short to medium term this could convert into further Dollar strength as the currency markets react positively to an improvement in the dollar yield. If this creates a strong bullish move in the dollar then any break below the 1.38 region could herald the start of a longer term decline for the Euro moving into Q3.

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